S&P (e-mini) 11th December 08 recap

"3-week high resistance and US markets are slowly drifting lower....

If US markets are going to continue higher this week, then prices should bounce off support and move back towards the Weekly highs on Friday

The critical levels in both markets is the blue channel support"


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S&P Weekly and 5-day pattern

US markets have drifted down most of the Week after reaching the Weekly highs on Monday.

As my Thursday report suggests, and move higher on Friday is based on Thursday's support and price continuing higher on Friday:-